Victor Lysenko, CEO and co-founder of Osome
Singapore-based online bookkeeping and accounting firm Osome has closed its over US$17 million Series B funding round from new and existing investors, including Illuminate, Ratio, Constructor Capital, and AltaIR.
With the new funding, Osome will enhance its product offerings for modern financial challenges, focusing on automation and AI components to better serve its customer base. The funds will also support marketing, customer service, and go-to-market efforts.
Founded in Singapore in 2017 by Victor Lysenko, Konstantin Lange, and Anton Roslo, Osome offers a full-fledged service that integrates software with the expertise of accountants, tax specialists, and corporate secretaries to handle financial administration. This way, it aims to disrupt the fragmented accounting and corporate services industry.
Also Read: Osome rakes in US$25M Series B to grow its accounting solutions beyond SG
The company claims to have increased its 2023 revenues while reducing its burn rate, moving closer to profitability. Osome reports commercial growth, serving over 13,000 SME customers and employing more than 400 staff across Singapore, Hong Kong, the UK, the Netherlands, the Philippines, and Malaysia. In 2023 alone, it claims to have helped over 2,500 new businesses go to market.
Lysenko, CEO and co-founder of Osome, said, “Asia’s seeing a funding winter, with companies carrying out mass layoff exercises and a much more challenging job environment. This means we’re seeing a record number of individuals turning to entrepreneurship. Osome truly believes the current downturn has catalysed more founders and entrepreneurs to realise their dreams of running their own businesses, and that’s what we are here for.”
In December 2022, the company raised US$25 million in a Series B round from investors, including Illuminate Financial, AFG Partners, and Winter Capital. This latest round brings Osome’s total funding since its 2017 founding to US$83 million.
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Image credit: Osome
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